IAM’s Core Members Management Board representatives for the Middle East, Ankit Bhalla and Shankar Ram, together with IAMX Validated member Move One, have provided fresh news updates as Iran struck a United Arab Emirates oil port and the United States announced plans to guide stranded commercial ships through the Strait of Hormuz.
According to figures from Sea Explorer, the leading shipping lines have over 30 container vessels and 300,000 TEUs currently stranded in Hormuz as the United States launches Project Freedom with U.S. Navy ships “in the vicinity” to prevent Iran’s military from attacking commercial ships. Officials said they will provide vessels with information on the best maritime lanes in the strait.
Meanwhile, on Monday the volatile situation flared as Iran struck the crucial oil hub of Fujairah in the United Arab Emirates. Iran also fired missiles and other projectiles at U.S. warships and commercial vessels in response to Project Freedom after U.S. military forces successfully guided two U.S.-flagged commercial vessels through the waterway.
Written prior to Monday’s events, the reports from the IAM Core Members Management Board and Move One outline that moving companies across the Middle East region continue to remain operational, but ocean freight remains disrupted and air freight capacity is limited to mainly regional carriers.
IAM Member Impact: IAM members are recommended to verify the following guidelines before confirming shipments to or from the region:
- Sea freight booking confirmation and routing.
- Inland haulage charges to/from alternative ports.
- Whether war risk surcharges apply.
- Whether storage may be required before shipment dispatch.
Sources: Kuehne+Nagel, The Wall Street Journal, Core Members Management Board, Move One